On December 11, 2012, Procyon Corporation’s
(the “Company”) Board of Directors approved an Executive Employment Agreement entered into between the Company and
Regina W. Anderson, the Company’s Chief Executive Officer.

Regina W. Anderson’s Executive Employment
Agreement, which is effective November 1, 2012, provides for a base annual salary of $158,000 and other benefits, including certain
short-term and long-term incentive bonus compensation based upon the Company achieving certain financial goals for net profit.
Ms. Anderson’s Agreement calls for a term of one year, but may be terminated by either party, with or without cause, upon
thirty day’s written notice.

A copy of Regina W. Anderson’s Executive
Employment Agreement is attached to this report and incorporated herein as Exhibit 10.1.

As set forth above, the Company entered into
an Executive Employment Agreement with Regina W. Anderson, as approved by our Board of Directors on December 11, 2012. A copy of
Regina W. Anderson’s Executive Employment Agreement is attached to this report and incorporated herein.

Item 5.07 Submission of Matters to a Vote of Security Holders.

We held our annual meeting for fiscal 2013 on
Tuesday, December 11, 2012, at 4:00 p.m. EST. The following matters were considered and approved by the shareholders:

The following six directors were elected to
hold office for one-year terms or until their successors are elected and qualified:

Votes For

Votes Against or Withheld

Total Voted

Regina W. Anderson

4,275,390

33,850

4,309,240

James B. Anderson

4,267,497

41,743

4,309,240

Justice W. Anderson

4,272,890

36,350

4,309,240

Michael T. Foley

4,284,997

24,243

4,309,240

Fred W. Suggs

4,284,997

24,243

4,309,240

Chester L. Wallack

4,284,997

24,243

4,309,240

2

Pursuant to the following vote, the appointment of Ferlita, Walsh
& Gonzalez, P.A. as our independent certified public accountants for the 2013 fiscal year, was ratified:

Votes For

5,296,127

Votes Against

1,000

Votes Abstaining

0

Total Voted

5,297,127

Item 9.01 Financial Statements and Exhibits.

(d)

Exhibits.

Exhibit No.

Description

10.1

Executive Employment Agreement of Regina W. Anderson.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

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